A Different Kind of Sunday
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 24 March 2023
⏱️ 24 minutes
🔗️ Recording | iTunes | RSS
🧾️ Download transcript
Summary
Today's Post - https://bahnsen.co/3JF6mRh
We are in a moment of “volatile Sundays” in the financial services industry. This is when market actors, policymakers, movers, and shakers have big news to announce on a Sunday in an effort to “beat markets opening”, or as Ben Bernanke once joked that his memoir would be called, “before Asia opens.”
I lived through it in spades in 2008 – Fannie and Freddie’s conservatorship, Lehman’s bankruptcy, Wachovia into the arms of Wells Fargo, Morgan Stanley’s deal with Mitsubishi, and the government’s extended backstop of Citi – all on different Sunday afternoon/evenings in either September, October, or November of 2008. I can tell you where I was, what I was doing, the exact date, the exact time, and all the things. Good times.
The last couple of Sundays have been a little adventurous, but for different reasons and with different catalysts. In a different environment, the news that UBS had done a “rescue acquisition” of Credit Suisse would have been the biggest news story of the entire year. I want to unpack it this week and share some thoughts on where it may be relevant for you, regular U.S. investors presumably with no direct exposure to either UBS or Credit Suisse, who normally just prefer to use your Sundays for church, family, rest, and sports.
Let’s jump into the Dividend Cafe!
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.0 | Well, hello and welcome to the Dividend Cafe. We are getting ready to go into another weekend. |
| 0:18.0 | And that's sort of what I'm talking about today is the last |
| 0:21.4 | couple of weekends. And this general era of Sunday drama of Sundays being kind of hijacked |
| 0:30.5 | by some distress event, some announcement, some alert in financial markets. And so I first of of all, will say, to those of you have no idea what I'm talking about, congratulations. |
| 0:43.4 | You have successfully pulled it off. |
| 0:46.0 | There is no reason for you to know what I'm talking about. |
| 0:51.0 | The types of things that I'm referring to are major, substantive, and in our world, their |
| 0:57.7 | world-changing events, I'll explain it all in a second. |
| 1:01.1 | But if somebody has their capital stewarded and managed by someone else, they trust, and |
| 1:06.7 | they're spending their Sundays going to church and being with their family or, you know, |
| 1:11.9 | watching the afternoon game or whatever, and not even aware of these types of things, |
| 1:17.9 | then I think that's kind of for the best. |
| 1:21.5 | It's not really an option all the time in our world, but of course, you know, we really are |
| 1:25.5 | talking about the exception, not the rule. |
| 1:35.1 | And it was 2008 where this idea of kind of a Sunday interruptive moment was was happening very frequently. And the time period of which Fannie Mae and Freddie Mac in early September |
| 1:41.8 | of 2008 were put into conservatorship was the first kind of weekend |
| 1:47.5 | enhancing moment. I remember that one vividly. It was my seven-year wedding anniversary. I was away |
| 1:52.8 | with my wife. And then it was just one week later that, and this one may have caught up into main street even more maybe not |
| 2:02.5 | because i don't know uh but the leeman brothers bankruptcy on the following sunday evening was another |
| 2:09.6 | you know just moment of it was a little less techy back then i think social media existed but |
| 2:16.8 | it was more text and television and things like that, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.